Pakistan Petroleum Invests Additional Rs. 14 Billion in Reko Diq

Pakistan Petroleum Limited has invested an additional Rs. 14 billion in the Reko Diq copper and gold project, raising its total investment to Rs. 68.1 billion as development work continues.

The fresh investment comes at a time when the project’s operator is reviewing security and development plans following recent attacks in Balochistan. The move highlights continued financial commitment by state-owned entities despite emerging security concerns.

The company made an additional equity contribution to Pakistan Minerals Private Limited, the entity managing the federal government’s stake in the project.

PPL confirmed in its latest financial report that the investment amounted to Rs. 14.025 billion, increasing its overall exposure to the project. Reko Diq is one of the largest mining projects in the region, with Canada-based Barrick Mining Corporation holding a 50 percent stake.

The remaining share is divided between Pakistani state-owned enterprises, with 25 percent and the Government of Balochistan holding the other 25 percent.

Pakistan Minerals Private Limited serves as a special purpose vehicle for managing the federal share, with PPL, Oil and Gas Development Company Limited, and Government Holdings Private Limited forming the consortium.

The entity oversees financing, equity contributions, and coordination with international partners. The project continued site development activities during the first half of the current fiscal year.

However, the operator has initiated a comprehensive review covering security arrangements, development timelines, and capital expenditure following recent security incidents in the province.

Officials have reiterated support for the project, with provincial leadership assuring investors of adequate security measures to protect ongoing operations and future investments.

Separately, PPL continues to expand its broader energy portfolio, with operations spanning multiple exploration blocks, including international assets. The company has also entered into strategic partnerships, including partial stake assignments in offshore exploration projects, as part of its long-term growth strategy.